Orell Fuessli Holding AG (OFN) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Orell Fuessli Holding AG stock CHF 203, price CHF 140, upside +45.8%, quality 70 out of 100. Rating: undervalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 9, 2026.
How to read this chart
60‑month range CHF 60.61 – CHF 166.50 · fair‑value band CHF 152.53 – CHF 254.21 · the CHF 139.50 price screens below the CHF 203.37 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 9, 2026.
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Orell Füssli AG, together with its subsidiaries, engages in security printing and technology, book retailing, and publishing business in Switzerland, Germany, Rest of Europe and Africa, North and South America, Asia, and Oceania.
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It operates through Security Printing, Industrial Systems, Book Retailing, and Other Business Areas segments.
The company produces and markets banknotes, security documents, identity cards, and other documents, as well as consulting services or contracts for the development of designs or security elements; develops, produces, installs, sells, and distributes after sales service equipment for the serialization of banknotes and security documents; and implements control and inspection systems, as well as provides software solutions for tracking security documents; and publishes children's, learning, and legal media books.
It also sells books and related products in through outlets in German-speaking Switzerland, as well as through online shop. In addition, the company offers logistics and other services for libraries and the corporate sector.
The company was formerly known as Orell Füssli Holding AG. Orell Füssli AG was founded in 1519 and is headquartered in Zurich, Switzerland.
Stock analysis
Orell Fuessli Holding AG (OFN) currently trades at CHF 139.50, while our model-based Fair Value estimate is CHF 203.37, implying the stock looks roughly 31% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of CHF 247.79 per share, and 18 of the 24 models we run sit above the CHF 139.50 price.
Bear case: the Asset-Based group reads lowest at CHF 33.44, and 6 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: CHF 152.53 (bear) to CHF 254.21 (bull), the price of CHF 139.50 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 70/100 (solid quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Orell Fuessli Holding AG reported revenue of CHF 273M in FY2025 versus CHF 210M in FY2021, a compound +6.7%/yr. Reported net income was CHF 19.0M in FY2025, compounding +19.2%/yr from FY2021.
Key figures
Market cap CHF 273M Small · P/E ratio 16.7 · P/S ratio 1.01 · EPS (TTM) CHF 8.35 · Dividend yield 4.2% · Net margin 6.0% · Return on equity 15.0% · Return on assets (EBIT) 15.5% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 16% below its 52-week high and 28% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −12% fair-value upside, at 46%, OFN screens cheaper than that median.
Fair Value models
BearCHF 152.53Fair Value CHF 203.37BullCHF 254.21
Price CHF 139.50 · Upside +45.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (CHF 2.19 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.73/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+8.0%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.9%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.5%
Start year 2020 (pandemic). Over 10 years: −0.2% a year
Revenue growth 23 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+0.4%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+18.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+14.5%
Dividend (yield on the price)4.2%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.15.1% vs 5.7%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.8% → 12%
2025 sits 58% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 1.0%/yr over ~10Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−11.9%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Switzerland: IMF forecast 0.6% a year to 2030, 0.8% from 2016 to 2025) that is about −12.4% a year for the price.
Compare Orell Fuessli Holding AG with another stock
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Specialty Business Services · 229 stocks
Beats the industry median on 10/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score70 · Top 25%
Fair Value upside+44.2% · Above median
Profitability
Return on equity (12 months)15.0% · Above median
Return on assets8.5% · Top 25%
Net margin (12 months)6.0% · Above median
Operating margin (12 months)5.4% · Below median
Growth and dividend
Revenue growth (quarter YoY)1.1% · Below median
Dividend yield (12 months)4.2% · Above median
Valuation Multiplesvs Specialty Business Services median · lower = cheaper
P/E (12 months)16.7× · Cheaper than median
P/B2.03× · Pricier than median
P/S (12 months)1.01× · Cheaper than median
Price / free cash flow (fiscal year)8.9× · Cheaper than median
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Orell Fuessli Holding AG Fair Value". https://www.fairvalue-calculator.com/stock/OFN
Frequently asked questions
Is Orell Fuessli Holding AG (OFN) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of CHF 203.37 versus a price of CHF 139.50, about +46% upside (undervalued).
What is the fair value of OFN?
Our model-based fair value for Orell Fuessli Holding AG is CHF 203.37 (as of Nov 9, 2026), built from audited fundamentals. The current price: CHF 139.50.
What is the quality score of OFN?
Orell Fuessli Holding AG has a Quality Score of 70/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Orell Fuessli Holding AG (OFN)?
Our model-based price target is the fair value of CHF 203.37 (as of Nov 9, 2026) from 24 valuation models. Cautious scenario CHF 152.53, optimistic scenario CHF 254.21. It is a calculation from audited fundamentals, not an analyst target.
What is the Orell Fuessli Holding AG stock forecast for 2026?
Our models put fair value at CHF 203.37, about +46% upside versus a price of CHF 139.50 (undervalued). Cautious scenario CHF 152.53, optimistic scenario CHF 254.21. The calculation is refreshed regularly with new filings.
What is the revenue of Orell Fuessli Holding AG (OFN)?
Orell Fuessli Holding AG reported trailing-twelve-month revenue of about CHF 274M (latest available figure, as of Nov 9, 2026).
Does Orell Fuessli Holding AG pay a dividend?
Orell Fuessli Holding AG currently shows a dividend yield of 4.16% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of Orell Fuessli Holding AG (OFN) and when is the ex-dividend date?
Orell Fuessli Holding AG pays a dividend of CHF 5.80 per share a year, a dividend yield of 4.2%. The last ex-dividend date was May 22, 2026. A dividend has been paid every year since 2016. The payout ratio is 69.5% of earnings. Free cash flow covers the dividend 2.73 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into Orell Fuessli Holding AG (OFN)?
For today's price to be fair in a discounted-cash-flow model, Orell Fuessli Holding AG would have to grow free cash flow by -11.9 % per year for five years (discount rate 9.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.5 % per year. As of Nov 9, 2026.
What discount rate (WACC) does the fair value of OFN use?
Our models discount Orell Fuessli Holding AG at 9.6 %: a base by market capitalisation (small), damped by beta 0.13, country premium for Switzerland. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Orell Fuessli Holding AG that is -11.9 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.6 %) and the same formula as our fair value.
How much growth has Orell Fuessli Holding AG (OFN) delivered so far?
Over the past 5 years revenue at Orell Fuessli Holding AG grew +4.5 % a year. The price currently implies free-cash-flow growth of -11.9 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Orell Fuessli Holding AG (OFN) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Orell Fuessli Holding AG (-11.9 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Orell Fuessli Holding AG (OFN)?
The free-cash-flow yield on the price is 11.34 %: that much free cash flow Orell Fuessli Holding AG produces per unit of market value. When it exceeds the discount rate of our models (9.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Orell Fuessli Holding AG (OFN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Orell Fuessli Holding AG it is CHF 203.37 per share (as of Nov 9, 2026), against a price of CHF 139.50. It is the blended result of 24 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Orell Fuessli Holding AG stock overvalued or undervalued in 2026?
As of Nov 9, 2026, OFN trades below its calculated fair value: price CHF 139.50, fair value CHF 203.37, a gap of about +46% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of OFN?
No. The price is what the market pays today (CHF 139.50); the fair value is what the company's own numbers justify (CHF 203.37). For Orell Fuessli Holding AG the two are CHF 63.87 per share apart. That gap is exactly why we show both numbers side by side.
How much is Orell Fuessli Holding AG worth?
The market values Orell Fuessli Holding AG at about CHF 273M (market capitalisation, as of Nov 9, 2026). Per share that is CHF 139.50; our models calculate a fair value of CHF 203.37 per share.
What do the bullish and bearish scenarios say about OFN?
Our models span a range for Orell Fuessli Holding AG: cautious scenario CHF 152.53, base CHF 203.37, optimistic CHF 254.21 per share (as of Nov 9, 2026, price CHF 139.50). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of OFN?
Orell Fuessli Holding AG trades at a price-to-earnings ratio of 16.7 (as of Nov 9, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of CHF 203.37 is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2016 to 2025), reported earnings, FY2025 ex one-offs: 18.8. Other multiples: PEG 1.3, P/B 2.0, P/S 1.0, EV/EBITDA 5.5.
What is the PEG ratio of OFN?
The PEG ratio of Orell Fuessli Holding AG is 1.31 (P/E divided by earnings growth, as of Nov 9, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Orell Fuessli Holding AG (OFN)?
Balance-sheet figures for Orell Fuessli Holding AG (as of Nov 9, 2026): return on equity 15.0%. They feed the Quality Score of 70/100, which measures business quality independently of the share price.
How far is OFN from its 52-week high?
Orell Fuessli Holding AG trades at CHF 139.50, about 16% below its 52-week high of CHF 166.50 and 28% above the low of CHF 109.05 (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of CHF 203.37 is for.
Which stocks are comparable to Orell Fuessli Holding AG?
From the same area (Industrials) we also value Cintas Corporation, Thomson Reuters Corporation, Copart, Inc, Global Payments Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Orell Fuessli Holding AG stock attractive at the current price?
The data as of Nov 9, 2026: price CHF 139.50, calculated fair value CHF 203.37 (+46%), Quality Score 70/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of OFN calculated?
We run Orell Fuessli Holding AG through 24 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of CHF 203.37 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Orell Fuessli Holding AG currently trades 31% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Orell Fuessli Holding AG (OFN)?
The closing price on Nov 9, 2026 was CHF 139.50. Our model-based fair value is CHF 203.37, about +46% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Orell Fuessli Holding AG right now?
The price is below even our cautious bear case (CHF 152.53). The market is more pessimistic than our downside scenario. Solid quality (70/100) at a price below fair value, the discount is the argument here, not the business quality.
Where does the earnings growth of Orell Fuessli Holding AG (OFN) come from?
Earnings per share at Orell Fuessli Holding AG grew +3.8 % a year from 2015 to 2025. Broken into its drivers: revenue per share −1.6 %, EBIT margin +10.1 %, tax rate +1.6 %, residual (interest, one-offs) −5.7 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Orell Fuessli Holding AG
How large is the market capitalisation of Orell Fuessli Holding AG (OFN)?
The market capitalisation of Orell Fuessli Holding AG is CHF 273M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Orell Fuessli Holding AG (OFN)?
The price-to-sales ratio of Orell Fuessli Holding AG is 1.01 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Orell Fuessli Holding AG (OFN)?
Earnings per share at Orell Fuessli Holding AG are CHF 8.35 (price ÷ EPS = P/E 16.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Orell Fuessli Holding AG (OFN)?
The dividend yield of Orell Fuessli Holding AG is 4.2% (payout 69.5%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Orell Fuessli Holding AG (OFN)?
The net margin of Orell Fuessli Holding AG is 6.0% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Orell Fuessli Holding AG (OFN)?
The return on equity (ROE) of Orell Fuessli Holding AG is 15.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Orell Fuessli Holding AG (OFN)?
On an EBIT basis the return on assets of Orell Fuessli Holding AG is 15.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Orell Fuessli Holding AG (OFN)?
The operating margin of Orell Fuessli Holding AG is 5.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Orell Fuessli Holding AG (OFN)?
Revenue at Orell Fuessli Holding AG is growing +1.1% versus a year earlier (3y avg +7.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Orell Fuessli Holding AG (OFN)?
Earnings per share at Orell Fuessli Holding AG are growing −39.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Orell Fuessli Holding AG (OFN) hold?
Orell Fuessli Holding AG holds more cash than debt, CHF 82.2M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 9, 2026